Amend the bill, as and if amended, by striking in its entirety
the unnumbered SECTION beginning on line 23 on page [1409-19]
and ending on line 32 on page [1409-21] and inserting:

/ SECTION __.
A. The General Assembly finds
that:
(1) A real property
owner should be able to appeal the value of property using the
most recent information available to the official charged with
determining the value of the property;
(2) Act 388 of 2006
allows a county assessor to determine the value of certain
property more frequently than the quadrennial reassessment cycle
alone; and
(3) With the updated
information now available to a county assessor, it is the intent
of the General Assembly that an appeal on the value of real
property be based on December thirty-first of the tax year under
appeal.

B. Section 12-43-215 of the 1976 Code, as
last amended by Act 138 of 2005, is further amended to read:

"Section 12-43-215.
When owner-occupied residential property assessed pursuant
to Section 12-43-220(c) is valued for purposes of ad valorem
taxation, the value of the land must be determined on the basis
that its highest and best use is for residential purposes. When
a property owner or an agent for a property owner appeals the
value of a property assessment, the assessor shall consider the
appeal and make any adjustments, if warranted, based on the
market values of real property as they existed in the
year that the equalization and reassessment program was
conducted and on which the assessment is basedof
December thirty-first of the tax year under appeal."

C. Section 12-60-2510 of the 1976 Code, as
last amended by Act 57 of 2007, is further amended to read:

"Section 12-60-2510.
(A)(1) In the case of property tax
assessments made by the county assessor, whenever the assessor
increases the fair market value or special use value in making a
property tax assessment by one thousand dollars or more, or
whenever the first property tax assessment is made on the
property by a county assessor, the assessor, by July first in
the year in which the property tax assessment is made, or as
soon after as is practical, shall send the taxpayer a property
tax assessment notice. In years when real property is appraised
and assessed under a countywide equalization program,
substantially all property tax assessment notices must be mailed
by October first of the implementation year. In these
reassessment years, if substantially all of the tax assessment
notices are not mailed by October first, the prior year's
property tax assessment must be the basis for all property tax
assessments for the current tax year. A property tax assessment
notice under this subsection must be in writing and must
include:
(a)
the fair market value; in a year in which an assessable
transfer of interest occurs due to a conveyance, if the assessor
determines that fair market value is more than the purchase
price, the assessor shall state with particularity the basis for
the increase in fair market value;
(b)
value as limited by Article 25, Chapter 37, Title 12;
(c)
the special use value, if applicable;
(d)
the assessment ratio;
(e)
the property tax assessment;
(f)
the number of acres or lots;
(g)
the location of the property;
(h)
the tax map number; and
(i)
the appeal procedure.
(2)
The notice must be served upon the taxpayer personally or
by mailing it to the taxpayer at his last known place of
residence which may be determined from the most recent listing
in the applicable telephone directory, the Department of Motor
Vehicles' motor vehicle registration list, county treasurer's
records, or official notice from the property taxpayer.
(3)
In years when there is a notice of property tax
assessment, the property taxpayer, within ninety days after the
assessor mails the property tax assessment notice or within
thirty days of receipt of a property tax bill, whichever is
later, must give the assessor written notice of objection to
one or more of the following: the fair market value, the
special use value, the assessment ratio, and the property tax
assessment.
(4)
In years when there is no notice of property tax
assessment, the property taxpayer may appeal the fair market
value, the special use value, the assessment ratio, and the
property tax assessment of a parcel of property at any time.
The appeal must be submitted in writing to the assessor. An
appeal submitted before the first penalty date applies for the
property tax year for which that penalty would apply. An appeal
submitted on or after the first penalty date applies for the
succeeding property tax year. When a property owner or an
agent for a property owner appeals the value of a property
assessment under this section, the assessor shall consider the
appeal and make any adjustments, if warranted, based on the
market values of real property as of December thirty-first of
the tax year under appeal.
(B) The department
shall prescribe a standard property tax assessment notice
designed to contain the information required in subsection (A)
in a manner that may be easily understood and also a property
tax refund assignment contract which may be utilized in a year
in which the purchaser of property files an appeal.(C)In any
year in which an assessable transfer of interest has occurred, a
purchaser of the real property may appeal the fair market value,
the special use value, the assessment ratio, and the property
tax assessment of a parcel of property in the same manner as the
seller. The assessor may require a written assignment of any
property tax refund executed by the buyer and seller."

D. 12-37-3140(A)(1)(c) of the 1976 Code is
amended to read:

"(c) as determined
on appeal, pursuant to Section 12-40-217, or Section
12-60-2510; or"

"Section 12-60-2570.
Notwithstanding any other provision of law, for any appeal
or protest brought pursuant to this subarticle, the county
assessor shall have the burden of proof on the fair market
value, the special use value, the assessment ratio, and the
property tax assessment.

Section 12-60-2580.
Notwithstanding any other provision of law, a taxpayer may
appeal a property tax assessment on an annual basis, except that
a taxpayer may only appeal due to a change in value once every
five years in conjunction with the county's reassessment cycle
pursuant to Section 12-43-217. However, if the property
undergoes an assessable transfer of interest during the
reassessment cycle, and the value has already been appealed in
the reassessment cycle, the taxpayer may appeal the value once
more during the quadrennial reassessment cycle following the
assessable transfer of interest."

F. This SECTION takes effect upon approval
by the Governor and applies to property tax years beginning
after 2011. /